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Technology Stocks : CYRIX / NSM -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (22086)	12/16/1997 1:27:00 PM
From: patrick tang	Read Replies (1) \| Respond to of 33344

That's what worries me - the GX/appliance business will take 2 to 3 yrs to develop and I just can't see bleeding red ink to stay in socket 7 stuff till then..... patrick tang

To: FJB who wrote (22086)	12/16/1997 1:28:00 PM
From: patrick tang	Read Replies (1) \| Respond to of 33344

Come to think of it, perhaps Cyrix, just like AMD did last Q, lost the recipe to the fast parts and so are now swimming with the slow parts? patrick tang

To: FJB who wrote (22086)	12/16/1997 1:50:00 PM
From: AB	Respond to of 33344

All, Gumport at Lehman still positive on NSM, but it's a little depressing to see that his price target, $45, is just a little more than the recent high of $43. ---------------------------------------------------------------- ** EPS FINE-TUNED TO REFLECT CYRIX ACQUISITION ---------------------------------------------------------------- 15% DILUTIVE NOW, THEN ACCRETIVE MID FY99. We are adjusting our EPS assumptions to reflect the Cyrix acquisition. The transaction should be dilutive into mid FY99 and accretive there after. SO, WE NOW PROJECT FY98 AT $1.65 (OLD: $1.92), FY99 AT $2.20 (OLD: $2.45), AND OUR INITIAL ESTIMATE FOR FY00 IS $2.90. GOOD STRATEGY IN PLACE. We note that today's story of the big demand for settop boxes that integrate an x86 processor while highlighting Intel (INTC -69 3/4; 2), should also be an opportunity for the new National. If this opportunity for National does not directly occur with TCI, then perhaps with others. We are sure that current pressure on National reflects investors' disappointment that Cyrix will not be accretive sooner plus general concern regarding the impact of Asia Pacific. But, we believe that National now has all the integral pieces to address emerging, high-volume markets for analog system level logic solutions (a strategy that will lead to long-term uptrend in profitability). DESPITE THE STEEP SETBACK IN THE STOCK PRICE, WE CONTINUE TO BELIEVE THAT A $45 1-YEAR PRICE TARGET IS DOABLE. Anthony